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Joseph Otting will step down May 29 as head of the OCC and turn the reins over to Brooks, a former financial services industry executive who worked with Otting at OneWest.

The Federal Reserve received a bipartisan critique Wednesday from members of a congressional oversight panel who said the central bank has been slow to launch a key emergency lending program for midsize companies.

Jennifer Roberts, the company's head of business banking, details a process to have units work one-on-one with customers to get Paycheck Protection Program funds deployed faster.

The credit union regulator has implemented a host of measures to help the industry manage the pandemic, but there may be only so much it can do without congressional action.

A transparent, decentralized ledger will speed up payments while mitigating the inevitable next round of federal mismanagement, says Polyient Labs' Jeff Hinkle.

The comptroller of the currency, who is stepping down after two and a half years on the job, ruffled feathers and won some fans in pushing through CRA reform, cutting costs and trying to reshape the agency’s examiner culture.

The Office of the Comptroller of the Currency watered down numeric metrics that some groups blasted and allowed more institutions to opt out of the new regime. But whether the agency has won over any detractors remains to be seen.

With the pandemic fueling anxiety about public transportation and dense urban offices, financial firms in Manhattan are looking elsewhere for space to let workers spread out and avoid commuting into the city.

The much-anticipated proposal, which would not go into effect until after Fannie Mae and Freddie Mac are privatized, reflects Director Mark Calabria’s aggressive efforts to get the companies on a strong financial footing.

Four federal agencies offered guidance Wednesday on how to offer products that compete against payday loans without incurring Washington's wrath. The announcement could spark the rebirth of deposit advances, which were regulated out of existence during the Obama administration.

The Toronto company is testing new software from Cinchy that lets its technology teams visualize how datasets spread across departments might work together to make client referrals or collaborate with fintechs.

Craft Bank, which plans to open this summer, is in the final stage of raising $30 million in initial capital.

Some staff will be sitting at different desks, and in some cases different floors, when they return to work, according to the memo sent to employees Wednesday.

The National Association of Federally-Insured Credit Unions has released the results of survey looking at how the industry has used the Paycheck Protection Program so far.

The sellers will continue to service the loans and retain the fees they receive from the Small Business Administration.

Comptroller of the Currency Joseph Otting’s regulation reforming the Community Reinvestment Act lacks performance metrics criticized in an earlier proposal. But neither the FDIC nor the Fed is supporting the final plan.

One of the biggest subprime auto lenders agreed to pay $550 million to settle predatory lending charges; the bank regulator has largely completed his goal of overhauling the Community Reinvestment Act.

Comptroller of the Currency Joseph Otting says the revised Community Reinvestment Act will provide more credit access to communities in need and won't, as some had feared, create new thresholds for grading banks.

Recent tweaks to Reg D have blurred the line between checking and savings accounts, opening up the possibility for new innovation in those products.

The sessions are interactive, and viewers can purchase products at any time during the session by clicking on a small product window and making a purchase with an app such as Alipay, says Azoya International's Franklin Chu.